Regular customers, misled by management, didn’t understand the implications of this transfer – but more sophisticated Series B investors were well aware of deficient record keeping, the filing added, arguing that the two entities should be treated as one for bankruptcy purposes. Source
Gold companies operating in China ramped up their production levels during the first quarter of 2023. According to industry reports, the Chinese gold industry managed to recover its extraction levels, reaching numbers it saw before the Covid pandemic, with the country engaging in a record streak of purchasing gold during the last five months. China Recovers Gold Production Levels During Q1 China managed to ramp up its gold extraction levels during the first quarter of 2023. Chinese companies have seen their production efforts rewarded during Q1 2023, as large mines…
Coinbase violated biometric privacy laws in Illinois through its collection and storage of customer fingerprints and facial templates, a proposed class-action lawsuit alleges. A May 1 filing in a California District Court by a Coinbase user claimed the exchange’s requirement that a customer uploads pictures of a valid ID and a self-portrait in order for the firm to conduct Know Your Customer (KYC) checks is violating certain provisions of Illinois’ Biometric Information Privacy Act (BIPA). The lawsuit argues BIPA required Coinbase to gain permission from users when collecting their biometrics.…
Cybercriminals from the darkest parts of the internet are reportedly selling hacked, verified crypto accounts on the darknet for as low as just $30 apiece. According to an April 24 research paper by online data security provider Privacy Affairs — titled The Dark Web Price Index, cybercriminals have been selling all manner of fraudulently obtained financial account information on the dark web. Our newest Dark Web Price Index yearly research is ready. This one is the biggest so far. Covers many new and interesting trends. Check it out here: https://t.co/H2tnM4Uuxf#darkweb…
International Business Machines Corp. (IBM) is expecting to put a “pause” on hiring for “back-office” roles that could be potentially automated by artificial intelligence (AI) instead. IBM CEO Arvind Krishna explained in a May 1 interview with Bloomberg that many “back-office” positions such as those in the human resources and accounting departments will likely be the first to be automated by AI. The IBM boss added he could “easily” see 30% of these positions replaced by AI over a five-year period. Dropbox: Laying off 500 people and replacing them with…
Russia’s president, Vladimir Putin, says the trend toward multipolarity is inevitable and will only intensify. “Those who do not understand this and do not follow this trend will lose,” the Russian president warned. Putin on Multipolarity Trend Escalating Russian President Vladimir Putin talked about a global trend towards multipolarity at a recent meeting of the Council for Local Self-Government Development. Putin said: This trend — the trend toward multipolarity in the world — is inevitable. It will only intensify. And those who do not understand this and do not follow…
Australian crypto exchange Coinjar is seeking to put its boots on the ground in the United States, with its CEO seemingly unfazed by the market’s “regulatory risk.” In an interview with The Australian on May 1, Coinjar CEO and co-founder Asher Tan said he saw opportunity despite a recent wave of U.S. crypto firms sounding alarm bells over the government’s approach to regulation. “Where other exchanges see regulatory risk, we see opportunity,” he said, adding: “We’ve always understood that regulation has a key role to play in crypto’s future and…
An Artificial Intelligence (AI) pioneer, nicknamed the “Godfather of AI” has resigned from his position at Big Tech firm Google so he could speak more openly about the potential dangers of the technology. Before resigning, Dr. Geoffrey Hinton worked at Google on machine learning algorithms for more than a decade. He reportedly earned his nickname due to his lifelong work on neural networks. However, in a tweet on May 1, Hinton clarified that he left his position at Google “so that I could talk about the dangers of AI.” In…
Blur has launched Blend, the expiry-less peer-to-peer perpetual lending protocol for NFTs, to increase liquidity for NFT holders. Blend – a solution to post-purchase NFT liquidity Blur, the self-proclaimed NFT Marketplace for pro traders, has rolled out a peer-to-peer perpetual ending protocol for NFTs. The project is a collaboration between Blur, Dan Robinson, and Transmissions11, a senior researcher and contributor to Paradigm and Seaport. The protocol, named Blend, short for Blur Lending, is a project to unlock NFT liquidity and spur the next level of growth in the token market.…
Luxury auction house Sotheby’s has announced the addition of a new on-chain marketplace that allows digital art collectors to purchase secondary NFTs. While many pre-existing NFT marketplaces already host peer-to-peer sales of digital artworks — the auction house is attempting to separate itself by offering a “rotating, curated selection of leading artists hand-picked by Sotheby’s specialists.” The next evolution of #SothebysMetaverse is here! The most trusted and dynamic destination to collect, buy and sell remarkable digital works. Explore: https://t.co/hZvYIkO3xx pic.twitter.com/dCkaCKlXVm — Sotheby’s Metaverse (@Sothebysverse) May 1, 2023 All NFT sales…